BREAKING NEWS

Gulf states hand Morocco first chunk of $2.5b. aid package

By REUTERS

FEBRUARY 1, 2013 21:17

RABAT - Morocco has received the first slice of a $2.5 billion aid package promised by wealthy Gulf Arab states, a Moroccan official said on Friday, part of pledge designed to cement ties between Arab monarchies in the wake of regional uprisings.

Saudi Arabia, Qatar, the United Arab Emirates and Kuwait agreed in Dec. 2011 to distribute $2.5 billion to both Morocco and Jordan, the only two Arab states outside the Gulf with monarchies.

"The valves are opened and we hope they will continue to be so," said the Moroccan official, who declined to be named and would not say how much money had been transferred.

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